Enjoy your trip. Hope it’s warm and sunny. Happy to see the department of education on the chopping block. From the time it was implemented by Carter in the late 70s till now we have deteriorated significantly. DOE may not be the cause but it certainly wasn’t and isn’t the solution either.
Thanks, JJ. We've got Tony Greer at our conference tomorrow morning, and he will join us at speakers dinner tomorrow night. I will thank him for introducing me to you. Travel safe. V
the times, they are a changing. it is impossible to observe markets now and believe you have any insight into what tomorrow will bring. but keep up the snark, and have a good trip
Hi JJ - Hope you have a good drive to Florida. (I'm here in frozen Boston, MA)... I loved the Woody Gutherie quote! Also liked the Directional Movement Index in the chart on bonds. I had a question about your comment on gold the other day. You said there were 12,600 lots outstanding in February - but aggregate open interest hasn't declined for April. Sorry if this is a dumb question - why would you expect open interest to decline for April? And what would lead one to expect that OI goes higher in April - other than investors left behind trying to get back in? Is it that the 12,600 lots in February need to be rolled? Thanks again... Mike
Hey Mike. I don’t have the data bc I’m in a hotel in Charleston but if my memory serves me correctly, about 70k Feb deliveries have been made w 12 still outstanding and aggregate OI is down < half that. Very unusual. It means the inflow of new April buyers and sellers is double the deliveries of Feb. I’ll check everything on Monday and come back with more color. Have a great weekend!
Not sure that the ETF holds it vs Blackrock control of stock. Regardless, as soon as they changed their tune from “BTC is non functional except for criminals “ to “hey, we are going to start an etf”… they had some sort of plan…. IMHO, as soon as Blackrock, Fidelity, etc all got involved, the concept of what BTC was supposed to be changed, but many still haven’t figured it out. All they see is “to the moon”.
I’m still trying to figure out what B.R. is doing to SLV and why they are manipulating their own ETF…..
Per chatgbt IBIT holds physical btc with AUM exceeding 57.5B. With MSTR, they are holding shares at 5% level and MSTR “As of February 7, 2025, MicroStrategy holds approximately 471,107 bitcoins, valued at around $50 billion. “. And Saylor keeps buying more - he may have problems with minimum alternative tax this year. Don’t know why. Read an article saying so. 🤷♀️😉
Enjoy your trip. Hope it’s warm and sunny. Happy to see the department of education on the chopping block. From the time it was implemented by Carter in the late 70s till now we have deteriorated significantly. DOE may not be the cause but it certainly wasn’t and isn’t the solution either.
Tragic what it has become…
Thanks, JJ. We've got Tony Greer at our conference tomorrow morning, and he will join us at speakers dinner tomorrow night. I will thank him for introducing me to you. Travel safe. V
Ty Victor, on the road now, sir. Kick him in the slats for me!
the times, they are a changing. it is impossible to observe markets now and believe you have any insight into what tomorrow will bring. but keep up the snark, and have a good trip
Hi JJ - Hope you have a good drive to Florida. (I'm here in frozen Boston, MA)... I loved the Woody Gutherie quote! Also liked the Directional Movement Index in the chart on bonds. I had a question about your comment on gold the other day. You said there were 12,600 lots outstanding in February - but aggregate open interest hasn't declined for April. Sorry if this is a dumb question - why would you expect open interest to decline for April? And what would lead one to expect that OI goes higher in April - other than investors left behind trying to get back in? Is it that the 12,600 lots in February need to be rolled? Thanks again... Mike
Hey Mike. I don’t have the data bc I’m in a hotel in Charleston but if my memory serves me correctly, about 70k Feb deliveries have been made w 12 still outstanding and aggregate OI is down < half that. Very unusual. It means the inflow of new April buyers and sellers is double the deliveries of Feb. I’ll check everything on Monday and come back with more color. Have a great weekend!
Thank you! So generous of you to respond to comments. Hope you're having a great trip.
Adding to IBIT thoughts….. The same master has increased their holding of MSTR to 5%…..
Not sure that the ETF holds it vs Blackrock control of stock. Regardless, as soon as they changed their tune from “BTC is non functional except for criminals “ to “hey, we are going to start an etf”… they had some sort of plan…. IMHO, as soon as Blackrock, Fidelity, etc all got involved, the concept of what BTC was supposed to be changed, but many still haven’t figured it out. All they see is “to the moon”.
I’m still trying to figure out what B.R. is doing to SLV and why they are manipulating their own ETF…..
Is IBIT holding physical coin dollar for dollar vs IBIT shares outstanding? Or is MSTR fungible?
Per chatgbt IBIT holds physical btc with AUM exceeding 57.5B. With MSTR, they are holding shares at 5% level and MSTR “As of February 7, 2025, MicroStrategy holds approximately 471,107 bitcoins, valued at around $50 billion. “. And Saylor keeps buying more - he may have problems with minimum alternative tax this year. Don’t know why. Read an article saying so. 🤷♀️😉
So a bitcoin ETF is holding a stock that holds bitcoin… fishy?
hi ! i am new to substack and know nothing about it. if i join and put in CC info is it protected somehow ?